Acumen Waste Services
Founded in 1994, Acumen Waste Services is one of the UK’s leading providers of industrial site services and waste management solutions, with offices and waste facilities in Keighley, York, Stockton on Tees, Immingham and Wolverhampton.
Park Place advised the group on structuring, funding and delivering the MBO. Funding was provided by Barclays, Lombard Asset Finance and private investment. The deal enabled the management team to become majority shareholders in the group, and facilitated the planned retirement and realisation of value for longstanding shareholders. Founder Jon Morris has remained involved, stepping into the role of non-executive chairman.
Ben Peacock who led the Park Place team, commented: “We are delighted to have helped structure and deliver the MBO for Acumen. It’s a credit to the retiring shareholders and the ongoing management team that they have put the building blocks in place over a number of years to enable a smooth and successful transition of the business. Managing succession is always a challenge for owner-managed businesses but given enough forward planning these types of deals can benefit all of the company’s stakeholders.”
Commenting on the deal, Kris Sutton Finance Director, said: “Park Place ensured that our buy-out was structured in a way that worked for the retiring, ongoing and new shareholders alike. They provided great support and advice along the way and it was a pleasure working with Ben and Tom. We look forward to continuing the relationship with Park Place and I am sure we will work with them again in the future.”
